Celanese price target raised to $70 from $60 at BofA

BofA analyst Salvator Tiano raised the firm’s price target on Celanese (CE) to $70 from $60 and keeps a Buy rating on the shares. Engineered Materials earnings look to have turned the corner as Celanese has repositioned its portfolio, the analyst tells investors. Meanwhile “core” acetyls appear to be doing better than expected, the analyst added.